U.S. households, the largest buyer of stocks since 2020, are expected to sell more equities in 2023 due to slowing growth in the economy and rising unemployment. Goldman Sachs says the macro backdrop will drive households to sell $100 billion in U.S. equities in 2023. Goldman forecast that GDP growth will slow to 0.9% in 2023 from 1.6% in 2022, while the unemployment rate will increase to 4% from 3.6%.
Norwegian Cruise Line, one of the largest cruise lines in the world, says passengers are no longer required to show they are vaccinated against COVID-19, show the results of such a test, or wear a mask. The new policy went into effect today. Norwegian Cruise cited “significant, positive progress in the public-health environment.” Ships have new protocols, including more sanitation, upgraded air filtration and enhanced health services.
Futures are up after stocks soared yesterday. The Dow Industrials surged 765, the NASDAQ jumped 239 and the S&P 500 gained 92.